HOUSTON — NAI Partners has secured a 22,800-square-foot industrial lease at 4140 World Houston Parkway in Houston for COSA Xentaur, a provider of equipment for the petrochemical, energy and pharmaceutical industries. Jake Wilkinson of NAI Partners represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of a vacant 3,750-square-foot industrial building in the Hunts Point neighborhood of the Bronx. The sales price was $975,000. Located at 1318 Oak Point Ave., the property consists of 2,500 square feet of industrial space with 14-foot ceilings on the ground floor, five roll-up garage doors and 1,250 square feet of space on the second floor. Jonathan Squires, Michael Fioravanti, Josh Neustadter and Addison Berniker of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was an Opportunity Fund formed by My Tool Rental, a Brooklyn-based tool rental firm that is expanding into the Bronx.
PHILDELPHIA — Binswanger has secured an 81,226-square-foot industrial lease for Hunter Keystone Peterbilt in Philadelphia. The property is located at 2811 Charter Road. Hunter Keystone Peterbilt plans to operate a full-service Navistar International heavy and medium duty truck dealership and an Idealease heavy and medium duty truck leasing company at the location. Hunter is a network of truck dealerships that has been in business for more than 80 years. Chris Pennington of Binswanger’s Philadelphia office secured the 10-year lease on behalf of Hunter from the property owner, Charter Road Realty.
BOTHELL, WASH — Investcorp has completed the sale of Highlands Campus Tech Centre, a technology campus located at 21520, 21312 and 21222 30th Drive SE in Bothell. Equus Capital Partners acquired the asset for an undisclosed price. The 201,766-square-foot campus features two flex/R&D buildings and one office building. Kevin Shannon, Nick Kucha, Ken White, Michael Moll and Bill DeLacy of Newmark Knight Frank represented the seller in the deal.
COMMERCE, CALIF. — Rexford Industrial Realty has purchased a multi-tenant industrial property in Southern California for $18.2 million, or $245 per square foot. Located at 6100 Sheila St. in Commerce, the 74,527-square-foot freezer/cooler building sits on 4.3 acres. The 22-foot clear height building features 40 dock positions with units from 6,000 square feet to 18,000 square feet. At the time of sale, the property was 100 percent leased to seven tenants. Rexford plans to improve the building’s functionality and energy efficiency with the potential to roll in-place leases to higher market rates. The name of the seller was not disclosed.
MCCOOK, ILL. — Noel Transportation has signed a 42,141-square-foot industrial lease at 4800 S. Vernon Ave. in McCook. The third-party logistics company is more than doubling its square footage and will use the space as a regional distribution center for its Midwest operations. Chris Lydon and Chris Tecu of Avison Young represented the tenant in the lease transaction. Cushman & Wakefield represented the landlord. The 189,216-square-foot building is now fully leased. Constructed in 2007, the building has a clear height of 32 feet.
Though Savannah by all standards is a small industrial market, you would never know it from the activity in the area. At 57 million square feet, the port city is poised to add an astounding 9.75 million square feet of inventory by mid-2019. The force behind all of this growth is attributed to one key factor: The Georgia Ports Authority (GPA). The GPA is an economic giant in Georgia supporting one of every 11 jobs in the state and accounting for 8 percent of its GDP. Home to the largest single-container terminal in North America, GPA moved more than 4.2 million TEUs (20-foot equivalent units) in fiscal year 2018, an 8 percent increase over 2017 and an all-time record for the port. With both CSX and Norfolk Southern on terminal, GPA also handled a record 435,000 rail lifts in FY 2018, which was a 16.1 percent increase over 2017. As the fastest growing port in the country, one might be concerned about congestion becoming an issue for the port, but reinvestment remains a top priority. The GPA recently opened its second inland port to move more containers toward population centers via CSX rail. It doesn’t hurt either that Savannah, geographically …
TYLER, TEXAS — St. Louis-based HDA Architects has completed a 219,000-square-foot industrial project in Tyler, about 100 miles east of Dallas, for beverage distributor GG Distributing Co. The project included renovating 100,000 square feet of a former U.S. Postal distribution center and building an additional 119,000 square feet at the property, which will serve as GG Distributing’s new headquarters. The property features a controlled temperature/concrete tilt-up warehouse for product storage, 25 shipping docks, a drive-thru for loading and an attached maintenance facility. Crossland Construction served as general contractor.
RIO RANCHO, N.M. — Titan Development Real Estate Fund I has opened Extra Space Storage 528 & Corrales, a self-storage facility located at Highway 528 and Corrales Road in Rio Rancho. The project is the second self-storage facility to be completed by the fund. The two-building property features 88,032 square feet of space offering both climate-controlled and drive-up units, as well as RV and boat parking. Additionally, the property includes electronic access, perimeter fencing, video cameras and a retail center that sells moving and packing supplies. The fund recently opened Extra Space Storage Rodeo in Santa Fe and plans to open two additional Extra Space Storage facilities in New Mexico in January.
DUNCAN, S.C. — CRG, the development arm of Clayco Inc., has purchased 39.3 acres of land in Duncan for the construction of The Cubes at Inland Woods. The speculative, cross-dock distribution center will span 467,200 square feet and feature 36-foot clear heights, 128 dock doors, four drive-in doors, 240 employee parking spaces and 74 trailer parking spaces. The Cubes will be situated less than two miles from the Inland Port Greer and less than three miles from BMW’s Spartanburg plant. The design team includes Clayco and its architect subsidiary BatesForum. Colliers International’s Garrett Scott, John Montgomery and Brockton Hall represented CRG on the land purchase and have also been chosen to manage the leasing of the new building. Atlanta-based The Net Lease Group arranged financing on behalf of CRG. The Cubes at Inland Woods is the second project in CRG’s distribution series. The St. Louis-based developer is also currently under construction on The Cubes at Inland 85 in Spartanburg.